"When it came down to it, Dallas, Richardson specifically, shone the brightest," says Thomas Nelson, associate for Dallas-based Stream Realty Partners LP. Health Dialog will open doors Jan. 1 at 1130 E. Arapaho Rd., getting 20,429 sf on the third floor and 10,754 sf on the fourth floor.
Charlie Otte, also a Stream associate, tells GlobeSt.com that Health Dialog's executives weighed class A and class B office buildings "all over the metroplex within a 15-mile radius of the Downtown." The short timeframe for the office opening helped to swing the deal toward the 119,169-sf building, which has been making its way back as a multi-tenant building after once being leased in its entirety to Samsung Group's US division.
"The landlord really took a proactive approach with their ability to meet the timing," Otte says. Also weighing on the decision was the location, building quality and expansion options. "The plan is to have 100 people right now," he says, "and then we can take down space as needed."
The Pearson Group of Austin bought the six-story building three years ago, roughly 18 months after Samsung vacated. The newest win pushes occupancy to 84.6%, according to Nelson, who is quoting $16 per sf to $17 per sf plus electric for the class B office space.
Otte says the Health Dialog Services' deal landed on Stream's doorstep via its Oncor affiliation. Founded in 1997, the private company has 1,000 employees in offices in the UK, Portland, ME, Scottsdale, AZ, Pittsburgh, Manchester, NH, Denver and San Antonio plus its headquarters city. Otte says the company is weighing plans to open "one or two" offices in 2008. "This is the only one in Texas for this year," he says.
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